California State Teachers Retirement System Decreases Holdings in Sonoco Products Co (SON)

California State Teachers Retirement System lowered its position in Sonoco Products Co (NYSE:SON) by 7.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 166,983 shares of the industrial products company’s stock after selling 13,696 shares during the period. California State Teachers Retirement System owned 0.17% of Sonoco Products worth $8,424,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. lifted its holdings in Sonoco Products by 1.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,411 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 177 shares in the last quarter. People s United Financial Inc. increased its stake in shares of Sonoco Products by 1.8% in the 2nd quarter. People s United Financial Inc. now owns 15,732 shares of the industrial products company’s stock worth $809,000 after acquiring an additional 275 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Sonoco Products by 1.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 17,395 shares of the industrial products company’s stock worth $864,000 after acquiring an additional 292 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Sonoco Products by 3.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 9,568 shares of the industrial products company’s stock worth $492,000 after acquiring an additional 338 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Sonoco Products by 1.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 39,341 shares of the industrial products company’s stock worth $2,022,000 after acquiring an additional 485 shares during the last quarter. Institutional investors own 72.04% of the company’s stock.

In related news, SVP Vicki B. Arthur sold 727 shares of the firm’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $53.00, for a total transaction of $38,531.00. Following the completion of the sale, the senior vice president now directly owns 33,998 shares of the company’s stock, valued at approximately $1,801,894. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Marcy J. Thompson sold 565 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $51.00, for a total value of $28,815.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,937 shares of company stock valued at $363,088 over the last three months. Corporate insiders own 1.90% of the company’s stock.

A number of analysts have issued reports on the company. KeyCorp reaffirmed a “hold” rating on shares of Sonoco Products in a research note on Sunday, December 3rd. Barclays raised Sonoco Products from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $49.00 to $55.00 in a research note on Friday, December 15th. Zacks Investment Research raised Sonoco Products from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Robert W. Baird reaffirmed a “buy” rating and issued a $60.00 target price on shares of Sonoco Products in a research note on Friday, November 10th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $48.00 target price on shares of Sonoco Products in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $53.00.

Shares of Sonoco Products Co (NYSE SON) opened at $53.34 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $5,300.06, a PE ratio of 19.61, a P/E/G ratio of 4.08 and a beta of 1.15. Sonoco Products Co has a 52-week low of $47.10 and a 52-week high of $55.77.

Sonoco Products (NYSE:SON) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sonoco Products had a return on equity of 16.40% and a net margin of 5.63%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. analysts predict that Sonoco Products Co will post 2.8 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 10th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, November 9th. Sonoco Products’s payout ratio is 57.35%.

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Sonoco Products Profile

Sonoco Products Company is engaged in manufacturing of industrial and consumer packaging products, and providing packaging services. The Company operates in four segments: Consumer Packaging, Paper and Industrial Converted Products, Display and Packaging, and Protective Solutions. Its Consumer Packaging segment’s products and services include round composite cans, aluminum, steel and peelable membrane easy-open closures for composite and metal cans; plastic bottles, cups and trays, and printed flexible packaging and global brand management.

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Institutional Ownership by Quarter for Sonoco Products (NYSE:SON)

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